The daily business briefing: November 9, 2018


Walt Disney Co. shares rose by 1.9 percent in after-hours trading on Thursday after the entertainment giant reported quarterly earnings that beat Wall Street’s expectations. Adjusted earnings per share rose to $1.48, comfortably beating the FactSet consensus estimate of $1.34 per share. Disney’s studio business made $2.2 billion, a 50 percent increase over a year earlier thanks to strong box office performance. In a call with analysts, Disney CEO Bob Iger provided some new details on Disney’s new streaming service. The service will be called Disney Plus, Iger said, although he did not disclose plans on pricing. Disney will continue investing in Hulu as an outlet for general fare, while steering family friendly TV shows and movies to Disney Plus. [MarketWatch, The Associated Press]

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